What happens if an ACL holder gets rid of their RM and doesn 8767 t replace him (ie he is still registered with ASIC as the RM but he is no longer employed by the ACL holder) ?
I know of a current RM who has competencies in advising and dealing in listed securities, derivatives, FX, unregistered MIS, and basic deposit products for wholesale clients.. who may be available to assist. Please contact me if you have any interest on 5967558865.
In addition to these requirements, if the departing RM is named as a key person on the credit licence, then ASIC must be notified within 5 business days of his/her departure. You must provide reasons for the change in key person as well as details of the arrangements for the key person’s replacement.
Can a person who has entered into a Personal Insolvency Agreement (PIA) be able to continue as a Responsible Manager for a short period of time whilst waiting for the creditor to accept the conditions of the PIA have been met?
We have had a look at our files, and currently we only have potential Responsible Managers for Australian Financial Services Licences, and not for Australian Credit Licences.
Thank you for your enquiry and providing us with an outline of what experience you are looking for from a Responsible Manager.
Responsible Managers can be employees, middle management, directors, CEOs or third party contractors who are of 8766 good fame and character 8767 (AFSL) or a 8766 fit and proper 8767 person (ACL), and have the requisite knowledge and skill. Regardless of their capacity, Responsible Managers must be directly involved in overseeing the provision of financial services or credit activities – it isn 8767 t enough to be appointed as a Responsible Manager and remain outside the business without playing a clear oversight function.
As well as qualifications the responsible manager is required to have at least two years relevant ‘problem free’ experience. To be considered relevant experience ASIC generally requires the experience to be gained while working under another Australian Credit Licence.
Alternatively, someone who has the capacity to affect significantly the corporation’s financial standing will fit this title.
Looking for an RM for an ACL application with credit lending experience. Anyone interested or know of anyone, please contact me. +66 988 775 888